Savings Opportunity Analysis
Do you want insight into what savings are available within your organisation? A savings Opportunity Analysis is a quick, cost effective option.
Conducting a savings opportunity analysis provides line of sight as to the number of potential projects & quantum of available savings, allowing decision makers to determine which projects to prioritise & expected project delivery timeframes.
With over 25 years of experience leading procurement team plus having performed hundreds of sourcing projects, Spend Solutions has industry benchmarks to identify savings opportunities that others can’t. This results in greater savings opportunities & quicker project delivery.
How it works
Identify savings that you never thought possible!!
Our opportunity analysis process takes a 3-way cut of your data to ensure every possible savings opportunity is identified-
- Existing contracts & price lists in place
- Current sourcing practices
- How products/services are consumed internally.
Using years of procurement experience & access to millions of data points, Spend Solutions can quickly identify & quantify real tangible savings opportunities.
Each savings opportunity is contained in an easy to read report that clearly outlines details for each project, including proposed strategy, savings opportunity, risk rating & expected timeframe.
Benefits to you
A savings opportunity analysis is a crucial first step to developing a savings roadmap that optimises your supplier base. Key benefits from conducting the process include-
- Identify the total ‘size of the prize’ savings available from your supplier base.
- Develop a savings roadmap based on prioritising projects of greatest benefit.
- Identify opportunities for immediate savings through direct negotiations with incumbent suppliers.
- Identify the true savings opportunity in each spend area.
- Identify opportunities to improve processes for managing supplier contracts, optimising transactions with suppliers & improving supplier performance.
